GDA 1.54% 32.0¢ good drinks australia ltd

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    They have a lot of projects to play around with....CAZ understands there is value in GDA

    Parker Range Gold Project

    Gondwana plan to �gspin off�h the Parker Range gold assets by way of a new listed company, Regatta Resources Limited (Regatta), enhanced by an amalgamation of the regions various tenement holders. The new exploration company will control an extensive portfolio of prospective gold properties which complement and increase Gondwana�fs current position.

    Regatta will manage several advanced gold properties previously held by Gondwana Resources Ltd, Polaris Metals NL and Crusader Holdings NL. The new tenement position is extensive and contiguous through out the Parker Range Greenstone Belt. The acquisition and amalgamation increases the existing resource base to almost 150,000oz (non JORC 2004) and provides the company with the means to upgrade existing resources to reserve status with the view to generate an early cash flow from the development of those reserves.

    Gondwana consider that the Parker Range area has excellent potential to further delineate high grade small tonnage deposits that are amenable to rapid extraction and processing. Previous explorers have focused on large tonnage stratigraphic targets and as a consequence there remains significant potential to delineate and advance smaller near surface gold resources. The company database reveals countless anomalous drill intersections that have never been fully evaluated or followed up with closer spaced drilling. The district also hosts a number of small high grade ore bodies associated with old workings on several historic mineralised trends.

    Gondwana shareholders will have a priority right to subscribe to shares in the offer.

    A more comprehensive review of Gondwana�fs tenement position in the Parker Range area and the potential of the various gold prospects is contained in the following section.



    East Pilbara Project

    The East Pilbara Project, consisting of six project areas, is a multi commodity tenement package. Areas controlled by Gondwana are considered not only prospective for gold but also base metals, tantalum and diamonds.

    Initially Gondwana planned to merge the tenement package with two other companies, creating a listed spin off entity called Montezuma Mining Corporation Limited. The amalgamation was subject to a number of terms and conditions, those conditions have not been satisfied and as a result the proposed merger will not proceed.

    Gondwana still believe that the best option for exploring, developing and improving the East Pilbara assets is by way of a separately listed Company. Gondwana consider that a spin off the East Pilbara project into Montezuma is one of the best options for shareholders and accordingly are considering their options.

 
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